It's always the lowest common denominator you need to attract to a betting platform not the shrewdies. I'm sure you probably know plenty of people who find, or assume, Betfair is too complicated, they're the people I want to bet against. Using a browser is one thing but all that hassle just to fund an account is going to put people off. Plus I'm not sure the man in the street will no regulations as a good thing. If all the dealers stop using the fruities to clean their cash maybe I'll get onboard.

Will the 2-3% commission be settled on your net position in the market, or on each bet you place?

I’m guessing it’ll be on each bet you place since every transaction needs to be paid for to be verified by the blockchain. This would make trading close to impossible. On Betfair, if I have a winning bet and a losing bet of equal value then I pay nothing. Or am wrong?

I also have concerns about latency. For something like horse racing, you need transaction confirmation times in the low 100ms to be able to do what we do now on Betfair. That’s very unlikely to be achievable in a decentralised distributed system. Or otherwise you’ll need a localised intermediary exchange but then that wipes out much of the point of the whole thing.